HOIV TO KEEP FARM ACCOUNTS. 



to have a new Ledger each year this account is closed us above 

 at the eud of the year. 



When transferring tlie balance to the new Ledger, be sure 

 you enter the balance on the credit side. In transferring any 

 account enter the balance on the side of the new account upon 

 which it was brought down on the old. 



141. WHEN YOU PAY YOUK NOTES SECURED BY 

 MORTGAGE.— The notes Fox has given to the First National 

 Bank are secured by mortgage. When paying notes thus secured, 

 as he did Januaiy 2nd, (See Plate 64) he doesn't destroy them when 

 paid, but keeps them until all are taken up, for it is absolutely 

 necessary they be kept until the mortgage is discharged. 



143. TIME OR SIGHT DRAFTS.— These are, technically 

 speaking, "Bills Payable" and you will not under ordinary cir- 

 cumstances have much to do with drafts, but if a draft should be 

 made on you for one, three or five days sight and you accept it — 

 when paid charge the person making it as it is a cash transaction. 

 For instance: If you write Clay Robinson & Co. to send you a 

 car load of "feeders" or "stockei's," charge the amount of their 

 draft on you to your Production or Live Stock account, writing in 

 the explanation column of your Cash Book the details of the 

 transaction. 



103 



